RBI superseded boards of Srei Infra Finance and Srei Equipment Finance, and their insolvency process is expected to be IBC-like, as it was in DHFL’s case.
Proposed changes divert the borrower away from informal lenders and also show the RBI’s intent of giving the NBFC-MFIs a level-playing field in the financial system.
Newspapers are filled with ads of gold jewellery auction amid indications of economic distress faced by Indian households. But resurgence in gold prices could stem the auctions.
In India, with nearly every household owning gold jewellery in some quantity, gold loans are a preferred option at a time of widespread unemployment and loss of income.
Oaktree Capital Group has offered Rs 366.5 billion, up from Rs 310 billion in its previous bid for DHFL. Piramal Enterprises and Adani Group also improved their proposals.
A stronger NBFC sector, which has been struggling since a crisis in 2018 when a large financier unexpectedly defaulted, is key to helping staunch further trouble in the economy.
Becoming banks would give NBFCs access to low-cost deposits. But even after IL&FS crisis led to rising borrowing costs, no company applied for a bank licence.
Even before pandemic struck, India was in the midst of a slowdown as a NBFC crisis hurt new loans & took a toll on consumption, which accounts for 60% of GDP.
TReDS platform boosts cash flow financing for small businesses. And yet, only about 10,000 out of more than 6 crore unincorporated MSMEs are registered on the platform.
The view that bureaucracies are bloated with far too many employees preying on taxpayers money is a widely held myth. Research shows how significantly understaffed the Indian state is.
The Centre is considering an increase in the National Company Law Tribunal's bench capacity, while the Standing Committee of Finance suggests fast-track courts.
The helicopters produced by Lockheed Martin are known as ‘submarine hunters’. India ordered 24 of these aircraft in 2020 to replace the Sea King helicopters. 15 have been delivered till date.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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